Oct. 18, 2012 (China Knowledge) - China Water Investment Co Ltd , a national corporation specialized in water investment and management, has announced it will issue RMB 400 million in medium-term notes with a maturity of five years in the interbank market on Oct 23.
The company said in a statement that the notes will be issued at face value, and the coupon rate determined in the process of book-building.
Both value and payment due date is set on Oct 25, and the to-be-issued notes tradable Oct 26.
RMB 200 million of the proceeds from the issue will be used to repay bank loans, while the remaining RMB 200 million to invest a project, said the issuer.
Dagong Global Credit Rating Co Ltd has rated the issuer and notes AA+ and AA+, respectively.
CITIC Securities Co Ltd<600030
> has been hired as lead underwriter and bookrunner. Bank of Communications <601328
> will be the joint lead underwriter for the offering.
This will be the issuer's second medium-term notes this year.